Hyliion (NYSE:HYLN) Now Covered by Johnson Rice

Key Points

• Johnson Rice has initiated coverage on Hyliion (NYSE:HYLN), giving it a "buy" rating with a price target of $5.00, indicating a potential upside of 134.74% from its previous close.
• Hyliion shares recently saw an increase of 2.9%, with the stock currently priced at $2.13 and a market capitalization of $373.68 million.
• Insider trading activity included Director Richard Freeland purchasing 65,000 shares at an average of $1.57 per share, signaling increased confidence in the company's future performance.

Research analysts at Johnson Rice assumed coverage on shares of Hyliion (NYSE:HYLN - Get Free Report) in a research note issued on Tuesday, MarketBeat reports. The firm set a "buy" rating and a $5.00 price target on the stock. Johnson Rice's price target suggests a potential upside of 134.74% from the company's previous close.

A number of other research firms also recently issued reports on HYLN. Wall Street Zen upgraded shares of Hyliion from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. Zacks Research raised Hyliion from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.00.

Hyliion Stock Up 2.9%

NYSE HYLN opened at $2.13 on Tuesday. The stock has a market capitalization of $373.68 million, a P/E ratio of -5.76 and a beta of 2.51. Hyliion has a 52-week low of $1.11 and a 52-week high of $4.09. The firm has a 50-day moving average price of $1.91 and a 200 day moving average price of $1.63.

Insider Buying and Selling at Hyliion

In other Hyliion news, Director Richard Joseph Freeland acquired 65,000 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was acquired at an average cost of $1.57 per share, with a total value of $102,050.00. Following the purchase, the director directly owned 222,798 shares in the company, valued at approximately $349,792.86. This trade represents a 41.19% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 20.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hyliion

Hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP boosted its stake in shares of Hyliion by 3,622.6% during the 1st quarter. GSA Capital Partners LLP now owns 449,498 shares of the company's stock worth $629,000 after purchasing an additional 437,423 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Hyliion by 43.6% during the 1st quarter. Invesco Ltd. now owns 2,678,501 shares of the company's stock worth $3,750,000 after purchasing an additional 813,593 shares during the last quarter. 683 Capital Management LLC boosted its stake in shares of Hyliion by 171.4% during the 1st quarter. 683 Capital Management LLC now owns 950,000 shares of the company's stock worth $1,330,000 after purchasing an additional 600,000 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Hyliion during the 1st quarter worth about $811,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Hyliion during the 2nd quarter worth about $44,000. 22.81% of the stock is owned by institutional investors and hedge funds.

Hyliion Company Profile

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